Saffron for Intermediaries has updated its Retentions Range, adding new fee options to give borrowers more choice.
The lender introduced £999 fee products for residential retention customers, including those coming off first-time buyer, self-build and contractor or self-employed deals.
These products are priced lower across all segments from 60% to 90% loan-to-value (LTV).
The lowest is a 4.27% 5-year fix with a £999 fee for those at 60% LTV and below.
Saffron also launched a new joint borrower sole proprietor (JBSP) retention product, available as a 2- or 5-year fix at 95% LTV, both fee free, at 5.77% and 5.67% respectively.
For buy-to-let (BTL) retention, including expat, limited company and historic house in multiple occupation (HMO) products, Saffron introduced £1,999 fee products and cut pricing across the range for fee products by 0.20%.
The lowest rate is a 5.07% 5-year fix with a £1,999 fee for 75% LTV and below.
Tony Hall, head of business development at Saffron for Intermediaries, said: “We’re excited to add fee options to our Retentions Range.
“These new products give brokers more flexibility to tailor solutions for their clients, whether that means choosing a lower rate with a fee or a fee-free option with slightly higher repayments.
“Importantly, brokers will continue to receive 0.35% proc fees on all retention business, ensuring they’re rewarded for the advice and support they provide.”
Hall added: “And this isn’t the end – these updates are just the first in a series of enhancements we’ll be making this month, so watch this space!”
